Software solutions for actuaries

Act-fx : the Actuarial Toolkit for Excel

Version 3.10
  • Support for the CMI Mortality Projections Model 2016 (core parameters) in all mortality and life financial functions (available only to CMI subscribers).

Version 3.9
  • Values from Revaluation of Earnings Factors Order 2016 (SI 2016/205) added to Revaluation of Earnings Factors Orders table.

  • Values from Revaluation of Earnings Factors Order 2017 (SI 2017/287) added to Revaluation of Earnings Factors Orders table.

  • Update to functions PPFYieldDef and PPFYieldPay to provide for revised definitions for yields introduced by PPF Assumptions Guidance A8 for s179 valuations with effective dates on or after 1 December 2016.

  • Update to function annSMPI to provide for basis changes to the annuity in payment as provided for under TM1 Version 4.2. These comprise the updating of the base mortality tables from PCMA00 / PCFA00 to PMA08 / PFA08 and the CMI model to be used to be that dated two years, instead of one year, before the year of the 6 April on or before the illustration effective date.

  • Gilt yields for 15 February 2017 added to Gilt Yields table for annSMPI function effective dates on or after 6 April 2017. Sample yields for 30 December 2016 also added.

  • The Gilt Yields table (aslGiltYields.txt) expanded by two columns to accommodate index-
    linked 5 to 15 year yields for 0% and 5% inflation.

  • RPI and CPI tables updated to February 2017.

  • Earnings Cap and Earnings Limits for 2017/18 added to tables.

Version 3.8
  • Values from Revaluation of Earnings Factors Order 2016 (SI 2016/205) added to Revaluation of Earnings Factors Orders table.

  • Earnings Cap and Earnings Limits for 2016-17 added to tables.

  • RPI and CPI tables updated to July 2016 (Note: the CPI table has been re-based from January 2016 as published by ONS).

Version 3.7
  • Addition of English Life Tables No.17 based on ONS data for the years 2010 to 2012.

  • Gilt yields for 15 February 2016 added to Gilt Yields table for annSMPI function effective dates on or after 6 April 2016.

Version 3.6
  • Support for the CMI Mortality Projections Model 2015 (core parameters) in all mortality and life financial functions (available only to CMI subscribers).

  • Addition of 'Series 08' mortality tables (available only to CMI subscribers).

  • Values from Revaluation Order 2015 (SI 2015/1916) added to Revaluation Orders table.

  • RPI and CPI tables updated to November 2015.

Version 3.5.1:
  • Modifications to improve the stability of the Excel add-in load process.

  • No changes to functionality.

Version 3.5 :

  • Support for the CMI Mortality Projections Model 2014 (core parameters) in all mortality and life financial functions (only available to CMI subscribers).

  • Additional alternative format for specifying CMI mortality projection models: "CMI_20XX".

  • Values from Revaluation Order 2014 (SI 2014/3078) added to Revaluation Orders table.

  • Values from Revaluation of Earnings Factors Order 2015 (SI 2015/187) added to Revaluation of Earnings Factors Orders table.

  • Earnings Cap (notional) for 2015-16 added to tables.

  • RPI and CPI tables updated to February 2015.

Version 3.4 :
  • The CMI SAPS 'S2' tables available in all mortality and life financial functions (available only to CMI subscribers).

  • New functions for contingent joint life temporary assurances payable on first death Ax1yt and IAx1yt.

  • Update to functions PPFYieldDef and PPFYieldPay to provide for revised definitions for yields introduced by PPF Assumptions Guidance A7 for s179 valuations with effective dates on or after 1 May 2014.

  • Update to function annSMPI to provide for nil and fixed rate increases to the annuity in payment as provided for under TM1 Version 4.0.

  • Update to function StatePensionDate to implement changes introduced by the Pensions Acts 2011 and 2014.

  • Values from Revaluation of Earnings Factors Order 2014 (SI 2014/6367) added to Revaluation of Earnings Factors Orders table.

  • RPI and CPI tables updated to June 2014.

Version 3.3 :
  • Support for the CMI Mortality Projections Model 2013 (core parameters) in all mortality and life financial functions (available only to CMI subscribers).

  • New function 'RevalnRPIFactor' to provide non-GMP revaluation similarly to 'RevalnOrdFactor' for statutory Revaluation Orders except that RPI increases are assumed to apply throughout.

  • Values from Revaluation Order 2013 (SI 2013/2913) added to Revaluation Orders table.

  • RPI and CPI table values updated to November 2013.

  • Earnings Cap and Earnings Limits for 2014-15 added to tables.

  • Gilt yields for 14 February 2014 added to Gilt Yields table for annSMPI function effective dates on or after 6 April 2014.

  • Change to installation script to resolve problem with some installations where Excel add-in was not being installed to correct Windows folder.

Version 3.2 :
  • Support for the CMI Mortality Projections Model 2012 (core parameters) in all mortality and life financial functions.

  • Function 'annSMPI' for Statutory Money Purchase annuities recognises specification of TM1 version 3.0. However, the annuity calculation is unchanged from TM1 version 2.0.

  • Values from Revaluation Order 2012 (SI 2012/2952) added to Revaluation Orders table.

  • Values from Revaluation of Earnings Factors Order 2013 (SI 2013/527) added to Revaluation of Earnings Orders table.

  • RPI and CPI table values updated to January 2013.

  • Earnings Cap and Earnings Limits for 2013 added to tables.

  • Gilt yields for 15 February 2013 added to Gilt Yields table for annSMPI function calls with effective date of illustration on or after 6 April 2013.

  • GMP fixed rate revaluation at 4.75% pa for leavers on or after 6th April 2012 incorporated into functions GMPFixedRevalnRate and GMPFixedRevalnFactor.

Version 3.1 :
  • Mortality table optionally specified as a blend of two standard tables in mortality and life financial functions.  Can be used to produce mortality and life financial functions on a unisex basis by specifying a combination of male and female tables.

  • The function 'annSMPI' for Statutory Money Purchase annuities extended to provide for the calculation basis under TM1 version 2.0.

  • Values from Revaluation of Earnings Factors Order 2012 (SI 2012/187) added to Revaluation of Earnings Orders table.

  • RPI and CPI table values updated to June 2012.

  • Earnings Cap and Earnings Limits for 2012 added to tables.

Version 3.0 :
  • Support for the CMI Mortality Projections Model 2011 (core parameters) in all mortality and life financial functions.

  • RPI and CPI table values updated to November 2011.

  • Values from Revaluation Order (SI 2011/2867) added to Revaluation Orders table.

  • Correction to use of alternative values for projection method to specify CMI projection model 2009 and 2010 introduced in version 2.1.

Version 2.1 :
  • Change to function PPFYieldPay to cater for new PPF Assumptions Guidance A6.

  • Addition of the population mortality tables for England and Wales ELT16 (males and females).

  • Addition of mortality tables AMN00 and AFN00.

  • New functions MinTableAge and MaxTableAge to return the minimum and maximum ages of the specified standard table.

  • Mortality function q returns 1.0 instead of #VALUE if the age is greater than the maximum (terminal) age for the table.

  • New alternative values for the Projection Method parameter of "CMI2009" and "CMI2010" equivalent to the existing values of "Core2009" and "Core2010" respectively.

  • Change in Act-fx start-up messages display to prevent the message box being obscured by the start-up pane of Excel 2010.

Version 2.0 :
  • Support for the CMI Mortality Projections Model (core parameter versions 2009 and 2010) in all mortality and life financial functions.

  • New function: mortality rate reduction factor for cohort projections and core CMI Projections Model.

  • Constant addition to mortality rate as optional parameter in all mortality and life financial functions.

  • Factor to be applied to annual improvement rate as optional parameter for cohort projections in all mortality and life financial functions.

  • Optional parameters now indicated in the Excel Paste/Insert Function dialogue (function wizard) by inclusion of the parameter name in square brackets.

  • New table and support functions for UK Consumer Price Index (CPI).

  • Formula for Revaluation Orders factor function updated for CPI measure of inflation.

  • Values from Revaluation Order (SI 2010/2861) added to table.

  • Values from Revaluation of Earnings Factors Order 2011 (SI 2011/475) added to Revaluation of Earnings Orders table.

  •  RPI table updated.

  •  TAS M compliance statement included.

Version 1.0 : Initial release